Dow ends record week up a modest 126 points

The stock markets ended Friday almost where they left off last week, with the Dow Jones Industrial Average having an almost boring 126-point up day, closing up at 11,269.

Despite the roller coaster week with its 400-plus point daily swings, the Dow was only down 175 points from last Friday before the after-hours S&P downgrade of the U.S. credit rating touched off a stampede of selling, then buying.

The Nasdaq rose 15 points to close the day at 2,508, 24 points down from its Aug. 5 close, while the S&P 500 tacked on 6 points to end at 1,179, off 20 points from last Friday.

Earlier in the day, the Dow was actually slightly ahead for the week on news of stronger retail sales in the last three months, suggesting the consumer hasn't put away the wallet.

“You've got a couple of positive data points over the past week, including retail sales,” Stephen Wood, who helps oversee $163 billion as the New York-based chief market strategist for Russell Investments, told Bloomberg. “Any information about the health of the consumer is important.”

After reaching record highs topping $1,800 an ounce earlier in the week, gold closed down about $3.50 at $1,348.

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